Cash payment over 20000/-
This query is : Resolved
23 January 2013
Can i make the cash payment excess of Rs. 20000/- for the whole fiscal year for different article (goods)from same vendor.
Thanks
Thanks
23 January 2013
You have to take care that a single payment should not exceed Rs 20000/-. If you are purchasing the goods against separate Invoices or Bills, individual bill amount should not exceed Rs. 20000. If Individual Bill exceed 20000/ make the payment in part.
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23 January 2013
no single cash payment exceed 20000. if you pay more than 20000 then check no bill exceed 20000. else this will be disallowed for income tax purpose.
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